Final Week Tonight’s John Oliver broke down how the Fact Social meme inventory is a reverse GameStop.
Oliver mentioned after two Trumpers defined why to however the DJT inventory:
You gotta love dudes. Look, in a method, they’re proper, although. Fact Social is mainly a meme inventory now. And its worth has risen primarily based on the identical precept behind meme shares like GameStop or AMC. If sufficient buyers purchase shares, they’ll drive the value up, and everybody can in some way get out earlier than the bubble bursts.
However the GameStop motion was at the very least nominally about wresting monetary energy away from from s*itty wealthy a**holes and restoring it to the little man, whereas this motion is about funneling the little man’s cash on to the sh*ttiest wealthy a**gap there may be. And it’s been pushed the identical method as different meme shares via social media posts like this one that claims, in case you love America, purchase DJT now, or this one studying, keep calm and purchase extra DJT, to my private favourite, this one which promotes the inventory alongside an eagle formed erection that jizzes glitter, which is smart, I suppose.
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Fact Social is type of like a penis in that numerous unhappy males on the web spend their time mendacity about how huge it’s and what it will probably do for you. Look, who is aware of precisely the place this can go. Fact Social’s worth might collapse when folks understand they’ve poured billions of {dollars} right into a potato with the phrase social media painted on it.
Though, if that occurs, I’m guessing Trump can have already cashed out, leaving his supporters holding the bag. However it’s additionally doable that Trump turns into president once more and holds onto the platform as a handy method for firms and international pursuits to funnel cash into his pockets, which all of them know he wants.
However the backside line right here is that this 12 months greater than ever, every part Trump does goes to be a money seize. This 12 months has introduced one of many few instances he’s really been requested to. pay the value for his actions, however already he’s bought different folks footing the invoice.
Video:
Fact Social is a con. It’s an empty firm that produces nothing and received’t launch the info on the variety of customers who on the positioning. The whole lot about Fact Social is a pink flag. Oliver was proper. The place this goes probably entails Trump cashing out and leaving his supporters broke and holding the bag.
It’s a film now we have seen time and again. Trump skates away and his sucker supporters are left holding the bag and choosing up the items. So long as individuals are prepared to bail Trump out with their very own cash, he’ll proceed to grift for acquire.
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Jason is the managing editor. He’s additionally a White Home Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Diploma in Political Science. His graduate work centered on public coverage, with a specialization in social reform actions.
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Member of the Society of Skilled Journalists and The American Political Science Affiliation